Should You Start Wholesaling Homes Before Buying Your Own?

Should You Start Wholesaling Homes Before Buying Your Own?

Can you and should you get into wholesaling homes before buying your own primary residence, if you don’t hold one right now?

The traditional path is of course to save up, buy your own home, keep building and eventually begin investing in other real estate when you can ‘afford’ to or have managed to sock away enough savings over a long period of time. Unfortunately we have seen just where that lands most people. It might have panned out for a few, but in general it leaves them far out of reach of their goals and financial needs for retirement, not to mention stuck in the rat race until they croak.

So could there be a more intelligent approach and wiser strategy?

Many individuals don’t have a choice today. They simply can’t afford to buy a home. They have little if any savings and their finances are far from healthy. However, they can still invest in real estate in several ways. Wholesaling homes can make a particularly good fit if you fall into this bracket and requires no money for down payments, no personal credit and very little time.

Others just can’t afford or qualify to buy a home they want. They could just buy anything and hope it puts them on the right track, but why move from comfort to take on big debt and be unhappy? Yes, it might pay off in appreciation, but we all know what betting on that leads too. Isn’t it better to let investment income fuel your dream home purchase?

Even if you can afford to buy your dream home (or close enough to it), and qualify for a mortgage loan today, it might be wiser to invest first. The truly financially savvy let their investment income and profit pay for their toys, homes, etc. not their earned income. That is the path to financial security and why the rich seem to keep on getting rich while everyone gets poorer and poorer.

Make money work for you, not vice versa.

Wholesaling homes is the perfect real estate investment strategy for reeling in large lump sums of cash quickly so that you can either put more money down on your real dream home and enjoy a safer equity position, and better loan terms, or pay all cash for it. That means being able to enjoy more security, less stress and more freedom. Meanwhile, your wholesaling empire goes on producing disposable income for you month after month.

You are the only one that can decide the right path for you, but the math is pretty clear for those that really want financial freedom…

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